Debenhams hires Google exec to its board October 4, 2012 DEBENHAMS yesterday revealed it has appointed Google’s director of retail Peter Fitzgerald as a non-executive director to help grow the department store group’s online business. Fitzgerald, 42, joined Google in 2007 after working at Amazon for eight years.
AAR eyes entire TNK-BP stake as talks persist October 4, 2012 GERMAN Khan, director of Russian oil company TNK-BP, said yesterday that his consortium AAR will make a “competitive” offer for BP’s 50 per cent stake in TNK-BP. Khan said AAR, which already owns 50 per cent of TNK-BP, has been organising funding for the sale of the stake. It will make an offer by 17 [...]
Gulf Keystone secures £170m funding for Iraq oil exploration October 4, 2012 LONDON-listed Gulf Keystone Petroleum is to raise $275m (£170.5m) worth of funding through convertible bonds to expand its operations in the Kurdistan region of Iraq. The bonds, which mature in 2017, will pay 6.25 per cent a year, and the proceeds will primarily be used to fund the development of the oil and gas exploration [...]
Carillion warns on revenue October 4, 2012 Construction firm Carillion warned yesterday that full-year revenue will be lower for this year than for 2011. In its interim management statement, Carillion said a restructuring of its UK construction activities in a shrinking UK market would hold back profits. The West Midlands-based group said it expects to deliver higher operating profit and operating margin [...]
Victrex continues sales growth October 4, 2012 Thermoplastic polymer manufacturer Victrex said yesterday that second-half volumes were seven per cent ahead on the same period last year at 1,527 tonnes, due to a strong pipeline of business in its polymer solutions business. Full-year volumes increased to a record 2,904 tonnes. Victrex said it had started construction of a £90m peek plant in [...]
Johnson Matthey boosts board October 4, 2012 Johnson Matthey has appointed Colin Matthews as a non-executive director with immediate effect. Matthews has been chief executive of BAA since 2008, and was previously group chief executive for Severn Trent. He has also worked for British Airways, Lattice Group and Hays Group. Johnson Matthey chairman Tim Stevenson said that Matthews had a “wealth of [...]
Leaky roofs and rats – welcome to the City slums October 4, 2012 THE Capitalist would like to thank all those who named and shamed in response to yesterday’s request for contenders in City A.M.’s search for the City Slum of the year. It seems there are rats up drainpipes all over the Square Mile, not to mention leaking roofs. One company complained of a mysterious leak at [...]
Hannam pipes up while Draghi wishes his mic had been muted October 4, 2012 IAN Hannam may have left JP Morgan after a £450,000 fine by the FSA for market abuse, but that hasn’t stopped the newly-established Natural Resources Forum from inviting him to be their keynote speaker at their inaugural event later this month. Hannam is renowned as one of the City’s most knowledgeable bankers in the field [...]
Promethean falls as it is hit by US school cuts October 4, 2012 SHARES in interactive whiteboard maker Promethean World plummeted yesterday, wiping more than 25 per cent off the company’s value, as the firm issued a fresh profit warning. Promethean, which generates most of its revenues from whiteboard sales to US schools, said it had not seen the boost it had expected during the start of the [...]
Luxfer’s New York flotation shines light on London’s listing problems October 4, 2012 Another day, and another company that has its roots firmly in the UK decides to float in the US. In the past few weeks two companies normally associated with the UK market, Manchester United and Salford-based speciality metals group Luxfer, have chosen the US financial markets to list and raise new capital. The latest figures [...]
